Explaurum Ltd (ASX:EXU) (formerly Erongo Energy Ltd) entered an agreement in June 2013 to acquire Ninghan Exploration Pty Ltd, which has made applications for properties prospective for gold and base metals in Westerne Australia, known as the Lyons Project.
The Lyons Project comprises five exploration licence applications totalling 1,560km2 located about 230km northwest of Meekatharra. The project area, which extends for about 85km eastwest and 40km north-south, is located 65km west of the Abra polymetallic deposit, 120km northwest of the former Horseshoe Lights - Fortnum gold and copper mines and 200km west-northwest of the current Plutonic and De Grussa gold and copper operations.
Explaurum is targeting several models of mineralisation at the project. A number of priority targets have been identified which need to be further refined.
Explaurum also has a 60% interest in the Maniema Gold and Tin Project in the Democratic Republic of Congo (DRC) in central Africa. The 930km2 project area are in one of the world’s principal Precambrian orogenic-metallogenic provinces, which is home to Banro Corporation’s Twangiza and Namoya deposits. Explaurum is currently assessing the potential of all targets previously identified at Maniema before planning any further exploration.